Concluding a reference contract

Date

2015-07-01

Current report no.

24/2015

The Board of TIM S.A. with its registered seat in Wrocław, informs that on 30.06.2015 TIM S.A. signed Annexe No. 1/2015 to the Trade Agreement concluded by and between TIM S.A. and “Legrand Polska” Sp. z o.o. with its registered seat in Ząbkowice Śląskie.

The Subject of the above-mentioned Trade Agreement is setting general rules of cooperation within the scope of sale by “Legrand Polska” Sp. z o.o. to TIM S.A. goods produced by “Legrand Polska” Sp. z o.o. The Subject of Annexe No. 1/2015 is specifying detailed trade terms and conditions regarding sale-purchase of the above-mentioned goods between TIM S.A. and “Legrand Polska” Sp. z o.o., applicable in 2015.
The above-mentioned Agreement is a framework agreement which means that every time the basis for its execution shall be orders for goods placed by TIM S.A., specifying, among others: goods, quantity, and the delivery time. The above-mentioned Trade Agreement shall be concluded for indefinite period of time.
The Board of TIM S.A. estimates that in 2015 value of the above-mentioned Agreement will exceed 10% of equity capital of TIM S.A. The provisions of the above-mentioned Agreement do not diverge from the market standards of this type of contracts. The Agreement does not include the condition or a term of suspension; does not provide for contractual penalties which maximum value could exceed 10% of its value and it was concluded on the basis of terms and conditions commonly applied in this type of contracts.
The above-mentioned Agreement fulfils the criterion of a reference contract due to the fact that its estimated value exceeds 10% of equity capital of TIM S.A.

2015-07-01, Artur Piekarczyk – Member of the Board
2015-07-01, Anna Slobodzian-Pula – Member of the Board